Mallinckrodt has announced that it has entered into an agreement to purchase Ocera Therapeutics, a California-based biopharma company focused on developing treatments for liver-related diseases.
Mallinckrodt, a specialty pharma manufacturer headquartered in the UK, has agreed to purchase Ocera for $1.52 per share, or about $42 million, plus additional cash payments of up to $75 million.
Of particular interest to Mallinckrodt is Ocera's developmental product OCR-002, an ammonia scavenger that is being studied for treatment of hepatic encephalopathy — a loss of brain function when the liver fails to filter out toxins from the blood — that occurs as a complication of acute or chronic liver disease.
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